News

Feb. 2, 2023

Canadian Real Estate Association (CREA) Forecasts Housing Turnaround in 2023

The Canadian Real Estate Association (CREA) forecasts a slight drop in sales in 2023 with a substantial turnaround in 2024. Take a look at the price predictions.

Feb. 2, 2023

Home sales decline below long-term averages and inventory remains low to start 2023

Inventory remains low in Metro Vancouver while home sales dipped well below monthly historical averages in January.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,022 in January 2023, a 55.3 per cent decrease from the 2,285 sales ...

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Jan. 30, 2023

BC government introduces “cooling off” period for home sales

On July 21, the provincial government introduced a home buyer protection period, the details of which are outlined in a new regulation that allows home buyers to back out of a residential purchase up to three business days after signing a contract.

The government began to enforce this regulation starting ...

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Jan. 30, 2023

Monthly Real Estate Market Update for Greater Vancouver December 2022

Jan. 30, 2023

Rising mortgage rates brought uncertainty and caution to Metro Vancouver’s housing market in 2022

Rising mortgage rates brought uncertainty and caution to Metro Vancouver’s housing market in 2022 

After seeing record sales and prices during the pandemic, Metro Vancouver’s* housing market experienced a year of caution in 2022 due to rising borrowing costs fueled by the Bank of Canada’s ongoing battle with inflation.  ...

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Jan. 26, 2023

B.C.'s housing market nears 'cyclical bottom:' RBC

Canada’s housing market is inching closer to its “cyclical bottom,” and British Columbia is following suit, with home resale activity in the province gradually stabilizing, according to a recent housing market update from the Royal Bank of Canada (RBC) (TSX:RY).

This has implications for the rest of B ...

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Jan. 25, 2023

NEWS Bank of Canada Interest Rate Update

The Bank of Canada raised its overnight policy rate by 25 basis points to 4.5 per cent this morning. In the statement accompanying the decision, the Bank noted that recent economic growth in Canada as been stronger than expected and labour markets remain tight but it sees growing evidence ...

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Jan. 23, 2023

Richmond Market Update December 2022

Jan. 16, 2023

Canadian home prices remain well above pre-pandemic levels

Canadian home prices fell in the fourth quarter but they are still well above pre-pandemic levels, a report.

In a House Price Survey released on Friday, it said the national aggregate home price dropped 2.8 per cent on a year-over-year basis in the fourth quarter, to $757,100.

This ...

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Jan. 1, 2023

New Regulations Prohibit Purchase of Residential Property by Non-Canadians

Purpose

The purpose of this Advisory is to provide a summary of the federal government’s Regulations, released on December 21, 2022, respecting the Prohibition on the Purchase of Residential Property by Non-Canadians Act (“the Act”). The Regulations, along with the Act itself, come into force, on January 1, 2023.  ...

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